XME fracture its line last Wednesday. Today, that damage is expressing itself more fully.
Metals ETF Trend Failure
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Metals Meltdown!
Those DUST shares I bought and sold last week for an overnight 20% profit are looking even better than ever now. Oh, well! This was a crazy trade, but a good one. The trend has totally reversed.
The Other Metals
Besides the focus of the prior post (gold), I wanted to mention a couple of metals of interest. I’ve been quite mouthy about my interest in palladium but, not to put too fine a point on it, I want to see this thing battered senseless before I get really serious (like six-figure serious) about it again. I got lucky last week with a quick pop, but honestly, having them hammered down to 116 or so would make my day.
Gold’s Coming Fall
The precious metals sector is up hundreds of percent over the past few years. The miners have had an explosive rally to lifetime highs, but I think they’ve topped out for weeks, if not months. I think the dashed blue line (below present price levels) is a decent minimal target for prices to sink.
“Gold Bubble” Callers, On Cue
Below is a profound picture of the gold bubble
But first, let’s review one of several “gold bubble” headlines that have appeared recently. In this piece, the analyst in question and his bubbly views are behind a paywall. But a writer at Investing.com highlights the analyst’s views publicly.
Gold may be in a bubble set to burst, economist warns
If you are not familiar with me, rest assured I have been down this path of rebuking “gold bubble” theorists before. Recently, here:
Why Gold is “Value” in Today’s Economy
…and as far back as 2007 here:
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